Zynex Ranked 7th in Revenue Growth Among Medical Device Companies

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Zynex, Inc. (NASDAQ: ZYXI) has been recognized as the 7th fastest-growing medical device company in revenue growth in the U.S. and Canada according to Deloitte's 2021 Technology Fast 500. The company reported a staggering 242% revenue increase from 2017 to 2020, culminating in $80.1 million in 2020. For 2021, Zynex estimates its revenue will reach between $130.0 million and $133.0 million. This accolade highlights Zynex’s commitment to innovation and growth in the medical technology sector.

Positive

• Ranked 7th in revenue growth among medical device companies in the U.S. and Canada.
• 242% revenue growth from 2017 to 2020, reaching $80.1 million in 2020.
• Projected revenue for 2021 between $130.0 million and $133.0 million.

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• None.

ENGLEWOOD, Colo., Nov. 18, 2021 /PRNewswire/ -- Zynex, Inc. (NASDAQ: ZYXI), an innovative medical technology company specializing in the manufacture and sale of non-invasive medical devices for pain management, stroke rehabilitation, cardiac monitoring and neurological diagnostics today announced it has been ranked 7^th in revenue growth among all medical device companies in the U.S. and Canada on Deloitte's 2021 Technology Fast 500.  Zynex was ranked 459^th for revenue growth between 2017 and 2020 across all companies in North America.  Zynex's revenues grew 242% over that period, with 2020 revenue reaching $80.1 million.  The company estimates 2021 revenue between $130.0 and $133.0 million. The 2021 Deloitte Technology Fast 500 list can be found at www.fast500.com.

"It is an honor to be recognized for the third year in a row by Deloitte's 2021 Technology Fast 500 for revenue growth," said Thomas Sandgaard, CEO and founder of Zynex Inc.  "This award truly reflects the strong commitment of our Zynex team and gives me an opportunity to thank everyone here for their dedication and hard work.  We appreciate this award and look forward to continued revenue growth in the years ahead."

"Each year the Technology Fast 500 shines a light on leading innovators in technology and this year is no exception," said Paul Silverglate, Vice Chair, Deloitte LLP and U.S. technology sector leader. "In the face of innumerable challenges resulting from the pandemic, the best and brightest were able to pivot, reinvent and transform and grow. We celebrate the winning organizations and especially the talented employees driving their success."

About Deloitte's 2021 Technology Fast 500™

Now in its 27^th year, the Deloitte Technology Fast 500 provides a ranking of the fastest-growing technology, media, telecommunications, life sciences, fintech, and energy tech companies — both public and private — in North America. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2017 to 2020.

In order to be eligible for Technology Fast 500 recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company's operating revenues. Companies must have base-year operating revenues of at least $50,000, and current-year operating revenues of at least $5 million. Additionally, companies must be in business for a minimum of four years and be headquartered within North America.

About Zynex, Inc. 

Zynex, founded in 1996, markets and sells its own design of electrotherapy medical devices used for pain management and rehabilitation; and the company's proprietary NeuroMove device designed to help recovery of stroke and spinal cord injury patients. Zynex also has a fluid monitoring system for use in hospitals and surgery centers. For additional information, please visit: www.zynex.com.

About Deloitte

Deloitte provides industry-leading audit, consulting, tax and advisory services to many of the world's most admired brands, including nearly 90% of the Fortune 500® and more than 7,000 private companies. Our people come together for the greater good and work across the industry sectors that drive and shape today's marketplace — delivering measurable and lasting results that help reinforce public trust in our capital markets, inspire clients to see challenges as opportunities to transform and thrive, and help lead the way toward a stronger economy and a healthier society. Deloitte is proud to be part of the largest global professional services network serving our clients in the markets that are most important to them. Building on more than 175 years of service, our network of member firms spans more than 150 countries and territories. Learn how Deloitte's more than 345,000 people worldwide connect for impact at www.deloitte.com.

Contact: Zynex, Inc.  (800) 495-6670 

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SOURCE Zynex

FAQ

What ranking did Zynex achieve in Deloitte's 2021 Technology Fast 500?

Zynex was ranked 7th in revenue growth among medical device companies in the U.S. and Canada.

What was Zynex's revenue for 2020?

Zynex's revenue for 2020 reached $80.1 million.

What is Zynex's projected revenue for 2021?

Zynex estimates its revenue for 2021 to be between $130.0 million and $133.0 million.

How much revenue growth did Zynex report from 2017 to 2020?

Zynex reported a revenue growth of 242% from 2017 to 2020.

What does the Deloitte Technology Fast 500 ranking signify for Zynex?

It signifies Zynex's strong revenue growth and innovation in the medical technology sector.